Continued Growth in Same Store Revenue, Gross Profit and Unit Volume in the Second Quarter
CHANDLER, Ariz., Aug. 11, 2026 /PRNewswire/ -- RideNow Group, Inc. $(RDNW)$, ("we", "our", the "Company", or "RideNow"), today announced financial results for the second quarter ended June 30, 2026.
Key Second Quarter 2026 Highlights (Compared to Second Quarter 2025)
-- Total revenue decreased 1.0%, primarily due to our store consolidation
effort coupled with our former transportation services which ceased
operations at the end of December 2025.
-- On a same store sales basis, Powersports Revenue was up 3.0%, driven by a
1.7% increase in unit sales.
-- Total gross profit was $84.8 million, up 1.1% as compared to $83.9
million.
-- Selling, general & administrative expenses ("SG&A") were $65.0 million,
or 76.7% of gross profit, compared to $66.7 million, or 79.5% of gross
profit.
-- Net income improved to $6.5 million as compared to a net loss of $32.2
million in the prior year, which included a franchise right impairment
charge of $34.0 million.
-- Adjusted EBITDA increased to $20.5 million from $17.2 million, up 19.2%.
Commenting on the quarter, Chairman, Chief Executive Officer and President Michael Quartieri said, "I am incredibly proud of our team's execution and the substantial progress we have made on our "back to our roots" strategy. Our performance gains over the last year demonstrate that we're on the right trajectory. We remain committed to driving sustained profitable growth, and delivering long-term value for our shareholders."
Second Quarter 2026 Results
Three Months Ended June 30,
($ in millions) 2026 2025 YOY Change
---------------- ---------------- ----------
Revenue $ 296.8 $ 299.9 (1.0) %
Gross Profit $ 84.8 $ 83.9 1.1 %
SG&A $ 65.0 $ 66.7 (2.5) %
Adjusted SG&A(1) $ 62.8 $ 64.9 (3.2) %
Operating Income (Loss)(2) $ 17.9 $ (18.8) NM
Net Income (Loss)(2) $ 6.5 $ (32.2) NM
Adjusted EBITDA(1) $ 20.5 $ 17.2 19.2 %
Unit Retail Sales:
New Powersports 10,807 10,618 1.8 %
Pre-owned Powersports 4,924 5,283 (6.8) %
-------------------------- ---------------- ---------------- ----------
Six Months Ended June 30,
($ in millions) 2026 2025 YOY Change
----------------- ----------------- ----------
Operating Cash Flow $ (27.7) $ 4.0 NM
Capital Expenditures $ (2.1) $ (2.9) 27.6 %
Adjusted Free Cash
Flow(1) $ 20.8 $ 2.9 NM
Jun. 30, Dec. 31,
2026 2025 Change
----------------- ----------------- ----------
Cash (unrestricted) $ 46.7 $ 29.5 58.3 %
Long-term Debt,
including Current
Maturities $ 213.1 $ 207.6 2.6 %
Principal of Long-Term
Debt, including Current
Maturities $ 221.1 $ 218.8 1.1 %
Non-Vehicle Net Debt(1) $ 174.4 $ 189.3 NM
------------------------ ----------------- ----------------- ----------
NM = not meaningful.
(1) Adjusted SG&A, Adjusted EBITDA, Adjusted Free Cash Flow, and Non-Vehicle
Net Debt are non-GAAP measures. Reconciliations of most directly comparable
GAAP to non-GAAP financial measures are provided in accompanying financial
schedules.
(2) The second quarter of 2025 includes a $34.0 million franchise rights
impairment charge.
Second Quarter 2026 -- Operating Results
Key Operating Metrics
Three Months Ended June 30, Six Months Ended June 30,
-------------------------------- --------------------------------
$ in
millions,
except per YOY YOY
unit 2026 2025 Change 2026 2025 Change
---------- ---------- -------- ---------- ---------- --------
Unit Sales
(#)
Retail
New 10,807 10,618 1.8 % 20,139 18,631 8.1 %
Pre-owned 4,924 5,283 (6.8) % 9,517 9,590 (0.8) %
---------- ---------- ---------- ----------
Total retail 15,731 15,901 (1.1) % 29,656 28,221 5.1 %
Wholesale 895 1,216 (26.4) % 1,674 2,082 (19.6) %
---------- ---------- ---------- ----------
Total
Powersports
Unit Sales 16,626 17,117 (2.9) % 31,330 30,303 3.4 %
========== ========== ========== ==========
Revenue
New retail
vehicles $ 156.6 $ 154.8 1.2 % $ 291.6 $ 274.9 6.1 %
Pre-owned
retail
vehicles 57.1 59.2 (3.5) % 109.1 107.3 1.7 %
Wholesale
vehicles 6.0 5.0 20.0 % 10.9 8.8 23.9 %
Finance &
Insurance,
net 27.0 27.2 (0.7) % 48.8 48.3 1.0 %
Parts,
Services,
and
Accessories 50.1 52.4 (4.4) % 96.8 98.5 (1.7) %
---------- ---------- ---------- ----------
Total
Powersports
Revenue $ 296.8 $ 298.6 (0.6) % $ 557.2 $ 537.8 3.6 %
========== ========== ========== ==========
Gross Profit
New retail
vehicles $ 23.1 $ 20.5 12.7 % $ 42.3 $ 36.8 14.9 %
Pre-owned
retail
vehicles 10.3 11.1 (7.2) % 19.1 18.9 1.1 %
Wholesale
vehicles 0.2 -- NM 0.0 0.1 -- %
Finance &
Insurance,
net 27.0 27.2 (0.7) % 48.8 48.3 1.0 %
Parts,
Services,
and
Accessories 24.2 24.9 (2.8) % 46.2 45.7 1.1 %
---------- ---------- ---------- ----------
Total
Powersports
Gross
Profit $ 84.8 $ 83.7 1.3 % $ 156.4 $ 149.8 4.4 %
========== ========== ========== ==========
Powersports
GPU(1) $ 5,390.6 $ 5,263.8 2.4 % $ 5,273.8 $ 5,308.1 (0.6) %
(1) Calculated as total powersports gross profit divided by total retail units
sold.
Same Store
Metrics(1) Three Months Ended June 30, Six Months Ended June 30,
-------------------------------- --------------------------------
$ in
millions,
except units YOY YOY
and per unit 2026 2025 Change 2026 2025 Change
---------- ---------- -------- ---------- ---------- --------
Same Store
Units (#)
Retail
New
vehicles 10,789 10,120 6.6 % 20,050 17,880 12.1 %
Pre-owned
vehicles 4,924 5,033 (2.2) % 9,517 9,151 4.0 %
---------- ---------- ---------- ----------
Total retail 15,713 15,153 3.7 % 29,567 27,031 9.4 %
Wholesale 527 808 (34.8) % 1,122 1,352 (17.0) %
---------- ---------- ---------- ----------
Total
Powersports
Unit Sales 16,240 15,961 1.7 % 30,689 28,383 8.1 %
========== ========== ========== ==========
Same Store
Revenue
New retail
vehicles $ 156.5 $ 148.5 5.4 % $ 291.1 $ 265.6 9.6 %
Pre-owned
retail
vehicles 57.1 56.4 1.2 % 109.1 102.5 6.4 %
---------- ---------- ---------- ----------
Total retail 213.6 204.9 4.2 % 400.2 368.1 8.7 %
Wholesale
vehicles 3.5 2.6 34.6 % 7.0 4.6 52.2 %
---------- ---------- ---------- ----------
Total Same
Store
Vehicles 217.1 207.5 4.6 % 407.2 372.7 9.3 %
Finance &
Insurance,
net 24.3 24.7 (1.6) % 45.7 43.8 4.3 %
Parts,
Services,
and
Accessories 50.1 50.7 (1.2) % 96.8 95.3 1.6 %
---------- ---------- ---------- ----------
Total
Powersports
Revenue $ 291.5 $ 282.9 3.0 % $ 549.7 $ 511.8 7.4 %
========== ========== ========== ==========
Same Store
Gross Profit
New $ 23.6 $ 22.0 7.3 % $ 42.8 $ 38.3 11.7 %
Pre-owned 10.3 10.5 (1.9) % 19.0 18.2 4.4 %
---------- ---------- ---------- ----------
Total retail 33.9 32.5 4.3 % 61.8 56.5 9.4 %
Wholesale
vehicles $ 0.1 $ (0.1) 200 % $ (0.2) $ (0.2) -- %
---------- ---------- ---------- ----------
Total Same
Store
Vehicles 34.0 32.4 4.9 % 61.6 $ 56.3 9.4 %
Finance &
Insurance,
net 24.3 24.7 (1.6) % 45.7 43.8 4.3 %
Parts,
Services,
and